Regulated information 2 June, 2014 TiGenix completes the sale of its Dutch manufacturing facility to PharmaCell TiGenix to receive a total consideration of Euro 5.75 million PharmaCell will continue to manufacture ChondroCelect, which Sobi will market and distribute TiGenix to focus on bringing its development pipeline to patients Leuven, Belgium - 2 June, 2014 - TiGenix NV (Euronext Brussels: TIG), the European leader in cell therapy, announced today that it has completed the sale of its Dutch production facility to PharmaCell BV for a total consideration of Euro 5.75 million. PharmaCell, a leading European contract manufacturing organisation active in the areas of cell therapy and regenerative medicine, has acquired the shares of TiGenix' wholly-owned subsidiary,TiGenix BV, which holds the Dutch manufacturing facility. The TiGenix state-of-the-art manufacturing facility is located in Sittard Geleen in the Netherlands. In 2012, the site passed a cGMP (current Good Manufacturing Practice) inspection by the Dutch authorities, and obtained approval from the European Medicines Agency for the production of ChondroCelect, the company's cell therapy product for cartilage repair in the knee. TiGenix has received an upfront payment of Euro 3.5 million, and will receive a final payment of Euro 0.75 million in 2017. ChondroCelect will continue … Continue reading
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